A bunch of urban progressives, mostly, living a lifestyle subsidized by the money-losing investments of billionaires. And yet everyone on the stage at the Democratic debates was dissing billionaires.

“I DON’T KNOW IF IT MAKES SENSE, AND I DON’T KNOW HOW LONG IT’S GOING TO LAST.” The Millennial Urban Lifestyle Is About to Get More Expensive. “If you wake up on a Casper mattress, work out with a Peloton before breakfast, Uber to your desk at a WeWork, order DoorDash for lunch, take a Lyft home, and get dinner through Postmates, you’ve interacted with seven companies that will collectively lose nearly $14 billion this year. If you use Lime scooters to bop around the city, download Wag to walk your dog, and sign up for Blue Apron to make a meal, that’s three more brands that have never recorded a dime in earnings, or have seen their valuations fall by more than 50 percent. . . . You might call it the Millennial Lifestyle Sponsorship, in which consumer tech companies, along with their venture-capital backers, help fund the daily habits of their disproportionately young and urban user base. With each Uber ride, WeWork membership, and hand-delivered dinner, the typical consumer has been getting a sweetheart deal.”

 

h/t GR

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